GWR: What followed the content of your post from MIDAS is posted below. The particular reference to the Canadian brokers/bankers is most disturbing (not that we didn't know this) and I am left wondering if they will ever stop their evil doings. Maybe all Canadians really do need to take posession of their share certificates, but I have been under the illusion that we are safe. On the other hand, if Canaccrap Adams is in the midst of it all, as has been suggested...and they are indeed in trouble... (ABCP losses)...and if they go down,,,and if they are the naked short conduit say, for most naked shorting of ECU...that has all of a sudden made me very pensive indeed. Here is the post:

"On short selling and the gold/silver shares. Last August the uptick rule was changed in the US, meaning investors could short a stock without waiting for an uptick first. It was AUGUST when the share prices in many of the junior-explanation stocks began to diverge from gold and silver. Was that a coincidence?

What a mess…

Bill,
While perusing the comments submitted to the SEC regarding naked short selling, I came across this well-written commentary by a Dr Jim DeCosta that was originally submitted in 2003 and resubmitted by someone else during the Regulation SHO comment period last year. This statement jumped off the screen when I read it:

"During the discovery phase of some of the recent (naked short selling) cases, it was shown that well over 90% of the income of several defendant Canadian broker/dealer (B/D) firms, was derived from the naked short selling of U.S. micro cap corporations on these trading venues (OTC: BB and the Pink Sheets) in the U.S."

The complete commentary is here:

http://www.sec.gov/comments/s7-12-06...

His comments were from five years ago. I can only imagine how endemic the illegal shorting has become. No wonder the juniors like ECU & SMXMF cannot make any headway and are mercilessly driven down. The system is completely corrupt as market makers and their cohorts can just short as much as they want with no real penalties under the guise of providing liquidity to match "excessive" buy orders.

If the SEC finally eliminates naked short selling and requires buy-in, and the stocks take off as the 19 financial stocks just did, many "shareholders" will not participate in the price appreciation as their shares will be counterfeit. They will be lucky to even get any money back as the crooked entities will probably be bankrupted.

If readers have not yet taken delivery of their paper certificates or become book entries on the book of the non-financial entity transfer agent for all of their junior mineral industry company shares, as Jim Sinclair has been telling people to do, reading Dr DeCosta's commentary should scare them into doing so.
DanC

The gold/silver shares were massacred. The XAU lost 9.71 to 175.33 and the HUI gave up 23.52 to 408.78.

It wasn't much better up north:

Andy notes…

It’s official … TSX-Venture has completely broken down below massive 2 ½ year support.

Jay says it all:

"This is so damn perverse."

Good rant by Bix to end this nightmare day...

Hi Bill
I'm amazed at the amount of calls I'm getting from friends and associates asking "What is happening to gold and silver"?

I am almost at my whits end with almost everyone who doesn't know what GATA knows! I literally yell at them "You either believe that the market is rigged or you don't". There is no in-between. I have given them the evidence of computer market rigging going back to the early 70's. I have laid out the GATA case time and time again. I have explained why, how, what, where and who but almost EVERYONE still doesn't get it!

Let me be clear: THE GOLD AND SILVER MARKETS ARE 100% RIGGED ON A COMPUTER TRADING PROGRAM 100% OF THE TIME!

- If you are confused about gold, silver and share market action... YOU DON'T UNDERSTAND THE MARKET IS RIGGED.

- If you are looking at every up tick and down tick in gold and silver.... YOU DON'T UNDERSTAND THE MARKET IS RIGGED.

- If you are involved with any gold/silver investment that isn't in your possession.... YOU DON'T UNDERSTAND THE MARKET IS RIGGED.

- If you watch and rely on the "technicals".... YOU DON'T UNDERSTAND THE MARKET IS RIGGED.

- If you relate economic, political, business, oil or war news to the price of gold/silver..... YOU DON'T UNDERSTAND THE MARKET IS RIGGED.

But most of all...

If you believe that gold and silver will slowly rise in annual double digit gains if the banking cabal goes away...

YOU DON'T UNDERSTAND THE MARKET IS RIGGED AND HAS BEEN RIGGED FOR OVER 50 YEARS!

The very second the Cabal ends their market rigging operation (and they will by consession or by force) the price of gold and silver will will be almost incalculable in US Dollar terms.

And the main reason for that is there will be NO MORE PHYSICAL FOR SALE.....ANYWHERE!

Sorry for the vent but sometimes I wish gold and silver would both get dragged down to $1oz by the Cabal so I could end this charade myself!

Keep up the fight!
Bix

All of us in the Planet GATA camp are disgusted, just like Bix